Reforms of Fuel Subsidies to be Completed in FY 2018/19: IMF

Reforms of Fuel Subsidies to be Completed in FY 2018/19: IMF

The International Monetary Fund (IMF) announced that Egypt’s reform of fuel subsidies is on track and that it will be completed in fiscal year (FY) 2018/19.

The reform is materializing as the IMF issue the complete fourth review of the Egyptian economic reform program in regards to the $12 billion IMF loan to Egypt.

The Egyptian government is keen to attain full cost recovery for all fuel products, except for liquefied petroleum gas (LPG) and fuel used in power plants and in bakeries by the end of FY 2018/19.

“The authorities have opted for a phased approach to the planned introduction of fuel price indexation for all products indicated at the time of the third review,” the IMF review indicated.

Sarah Samir 2950 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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